SBI FLAG

Apr 5, 2020

SBI - One of the largest Bank of India. As per technical structure it is forming a BULLISH FLAG pattern & is consolidating since 10 years in a horizontal trading range. This share can be accumulated at the lower trading range in the zone of 145-150 levels. If we get any closing below 140 & prices start sustaining below 140 levels will lead the stock to reach the Lower zone 100-90 levels where we can do average buying. The target zone for this share can be 250/350/550 in coming years.


INVESTMENT STRATEGY :

1. BUY HALF QTY IN THE RANGE OF 145-150 ZONE FOR A TARGET RANGE OF 240-50 & AS SOON PRICES SUSTAIN ABOVE 240 BUY MORE FOR THE TARGET OF 350

2. BUY HALF IN THE RANGE OF 145-150 ZONE & IF PRICES SLIDES INTO THE RANGE OF 100-90 BUY ANOTHER HALF KEEPING STOP LOSS AT THE LEVEL OF 80.

3. IF PRICES STAYS ABOVE 360 WHICH WILL BE CONSIDERED AS A BREAKOUT, ONE CAN GO VERY AGGRESSIVE FOR TARGET ZONE OF 550 LEVELS.

Jun 2, 2020

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